The public deficit of 12 % in "historical" perspective (curious graphs LXXXVII)

This morning, Ángel Laborda, the director of the Office of Conjuncture and Statistics of the Foundation of the Savings banks (Funcas), has affirmed that the public deficit of this year (and of the one that comes) would be located probably in 12 % of the GDP. A drove of donkeys, we go, not what Laborda has said, but the size of the deficit. So that they place this "drove of donkeys" in a certain historical perspective, in the following graph they have the public deficit from the year 1970.

The lowest thing that "we had fallen down" was, more or less, up to 7 % in 1995. Then we take almost a decade in re-balancing, more or less, the public accounts. We will see what happens next years, which will be of slow economic growth.

So that they have a more finished information, the following graph gathers the expenses and the income of the public administrations in percentage of the GDP, also from 1970, although only until 2008.

In the number 213 of Notebooks of Economic information during whose presentation Laborda has done these affirmations, the estimation of the deficit that he (together with Maria Jesus Fernández) was doing himself age of 10,5 % of the GDP, from a few public income of 35,4 % and a few expenses of 45,9 %. It does not seem, since that we are going to reach the levels of public expenditure of 1993 (49,6 %), although it is never known...